Tech startups are a hot ticket these days. Small startups have the potential to make serious money if they have a niche product or service. Slack was once a small startup, yet it is one of the fastest-growing enterprises in the world. Then we have JUUL Labs, which makes electronic cigarettes. It was founded in 2017 and is now worth $16 billion. Yes, you read that correctly!
There are many success stories out there, but for every success story, there are many more failures. The truth is, without the right foundation in place, a tech startup is going to struggle to make it out of the starting gate. Even if the founding members are exceptionally talented, they still need help. Here is a list of key personnel every ambitious tech startup needs.
It doesn’t matter how brilliant your ideas are, unless you have the right technical staff to give life to those ideas, your business will fail. Unless you are the brains behind the ideas, look for talented individuals you can work with. Hire people who are a good fit personality-wise and make sure they have the right experienced. It’s often a pressure cooker atmosphere working in a small startup, so any personality clashes and egotistical behavior could cause problems.
Someone needs to draw everything together and run the backend operation. This is where a manager comes in. Managers run the admin side. They make sure projects are on schedule, bills are paid, and clients serviced. Ideally, you need someone with plenty of business acumen, someone who can think beyond the confines of your current operation.
Look for a manager who has experience and is keen to help you grow your operation. Anyone with an MBA will have the right experience and know-how. Click here to find out more about online MBA courses.
Juggling cash flow isn’t as exciting as making cutting-edge tech products or designing a new software application, but money can make or break your startup. It is always sensible to have an experienced accountant on board, so you can make sure your finances are in good health from day one. To begin with, you will only need to hire an accountant on a part-time basis, to cover taxes and end of year stuff. When the business grows, you can upgrade to a financial director, who will manage the business’s finances on a daily basis.
Sales and Marketing
Look for a sales and marketing expert who can hustle for new business and look for growth opportunities. Again, you will need someone with experience. This is another area where an MBA comes in handy, although talented salespeople don’t necessarily need any formal qualifications to do a good job.
You may be able to get away with hiring graduates and entry-level candidates for some of these roles, but it is usually better to look for more experienced personnel. That way, you can concentrate on developing your products and services and leave the daily grind to other people.